Bommai asked to slash GST, input tax on raw materials

 









Ahead of the budget on March 4, members of various industrial associations met Chief Minister Basavaraj Bommai on Saturday, and urged him to reduce GST and input tax on raw materials like steel, plastic and aluminum. Karna-taka Small Scale Industries Association (KASSIA) said the budget should extend soft loans to MSMEs and support industrial estates. The KASSIA has sought soft loans from KSFC at 4% interest to both MSMEs as well as startups. They have also urged the state government to allocate Rs 1,000 crore to meet the subsidy gap towards the loans sanctioned by KSFC. Till economy recovers, the electricity tax should be restored to 6 percent from 9 percent, and any hike in tariffs should be deferred, they said. KASSIA administrator Sridhar also urged the CM to provide additional grant of Rs 5 crore to complete its flagship infrastructure for the KASSIA Centre of Excellence & Innovation (KCoEI) coming up at Dabaspet.

Source:https://www.newindianexpress.com/states/karnataka/2022/feb/27/bommai-asked-to-slash-gstinput-tax-on-raw-materials-2424294.html


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